topic Re: Lowes - CC Opinions? in Credit Cards

Lowes - CC Opinions?

EW800 — Sat, 01 Jun 2019 03:45:31 GMT

Hi All,

I have made a fair number of purchases at Lowes recently and literally every time I go through the checkout, the cashier tries to push getting me to app for their credit card. I have done a great job of declining. Just wondering what opinions are these days of the Lowes card. Worth considering? I am not concerned about the interest rate, as any balance would be paid before the statement cuts.

Thanks!

Re: Lowes - CC Opinions?

PointsBonus — Sat, 01 Jun 2019 04:44:50 GMT

If you plan on paying it off before the balance cuts, that’s even better for you.
It will become a 5% return card for you.
It also has great 36/60/84 month options with fixed low rates of like 3.99 -8.99 for the big projects.

Re: Lowes - CC Opinions?

Anonymous — Sat, 01 Jun 2019 05:03:32 GMT

Agreed with Viper, and with your scores, no matter your starting SL, you could recon it into a monster ($25-35k most likely, since your profile is strong and Synchrony is very TU-score driven).

Re: Lowes - CC Opinions?

Anonymous — Sat, 01 Jun 2019 05:48:56 GMT

It’s a keeper for me. 5% off everyday items or small purchases and 0% apr deals on purchases over $299. As a homeowner, it’s a nice added perk.

And with Sync, cli come much easier.

Re: Lowes - CC Opinions?

Adkins — Sat, 01 Jun 2019 06:53:58 GMT

Worth ii if you shop there unless you are military. Military gets a 10% discount.

Re: Lowes - CC Opinions?

Loquat — Sat, 01 Jun 2019 07:59:27 GMT

@Anonymous wrote:
It’s a keeper for me. 5% off everyday items or small purchases and 0% apr deals on purchases over $299. As a homeowner, it’s a nice added perk.
And with Sync, cli come much easier.

+1. This exactly. A great card if you shop there or can benefit from their promotional financing. As I’ve said many, many, MANY times around these here parts, one would have to pry my Lowe’s card from my cold, dead hands.

My house has been made a home by this very card. The 0% (6/12/18/24) month promotional offers are frequent. Synchrony (with the right profile and score) can be very generous with credit limits. It’s nice to have a $30k limit and can carry a 0%, 24 month promotional balance without maxing the card out.

From replacing my floors to appliances such as refrigerators, dishwashers, over the range ovens, shelves, cabinets, bathroom fixtures, mower, patio furniture, and even my awesome monster grill, have all been purchase via promotional finance with this very card.

I don’t know the exact number but if I had to venture a guess I’d say I’ve easily pushed well over $150k through this card over the 4 or so years that I’ve had it and have been able to do all of it interest free. I’ve purchased major appliances for my mom and grandma as gifts from there many times. Do you know how happy a mom is when her son has purchased and had delivered the Samsung touch screen refrigerator that she was just looking at a week before Mother’s Day?? And how happy Grandma is to get the Roomba that she really wanted but doesn’t have a clue how to use? Not to mention the ring door bells that I just picked up for both of them on Wednesday. LOL!! It makes them very happy which in turn makes me VERY happy.

There isn’t a VS, MC, Amex, or Discover card that I know of that would even come close to allowing me to make my house a home and not pay a cent in interest while doing it.

As you can see...I’m a huge fan of Lowe’s. I’m the guy who knows most folks at my local Lowe’s on a first name basis. I look for reasons to go there and if I don’t have a reason I’ll create one. I’ve spent a many of lunch breaks at the Lowe’s across the street from my job. Yep...I’m that guy. LOL! And BTW, I’m not a DIY type of person, I’ve used their contractors to get lots of things done and have been very pleased with the cost and the end result.

I rave about Lowe’s so much that they should put me on their payroll.

Re: Lowes - CC Opinions?

wasCB14 — Sat, 01 Jun 2019 08:51:26 GMT

@EW800 wrote:
Hi All,

I have made a fair number of purchases at Lowes recently and literally every time I go through the checkout, the cashier tries to push getting me to app for their credit card. I have done a great job of declining. Just wondering what opinions are these days of the Lowes card. Worth considering? I am not concerned about the interest rate, as any balance would be paid before the statement cuts.

Thanks!

It sounds like you don't need the special financing or easy CLIs others enjoy.

I mostly use Citi and Amex cards for home improvement store purchases (~$40k over the last three years).

Amex: Extended warranty and occasional spend offers

Citi: Extended warranty, retention offers, and price protection (not as good as it was) but disputes can be a hassle

That $40k was not particularly concentrated at any one merchant (due to product selection reasons more than financial ones) so it was nice to have a versatile wallet.

Re: Lowes - CC Opinions?

CreditInspired — Sat, 01 Jun 2019 10:25:18 GMT

@Loquat wrote:
@Anonymous wrote:
It’s a keeper for me. 5% off everyday items or small purchases and 0% apr deals on purchases over $299. As a homeowner, it’s a nice added perk.
And with Sync, cli come much easier.
+1. This exactly. A great card if you shop there or can benefit from their promotional financing. As I’ve said many, many, MANY times around these here parts, one would have to pry my Lowe’s card from my cold, dead hands.

My house has been made a home by this very card. The 0% (6/12/18/24) month promotional offers are frequent. Synchrony (with the right profile and score) can be very generous with credit limits. It’s nice to have a $30k limit and can carry a 0%, 24 month promotional balance without maxing the card out.

From replacing my floors to appliances such as refrigerators, dishwashers, over the range ovens, shelves, cabinets, bathroom fixtures, mower, patio furniture, and even my awesome monster grill, have all been purchase via promotional finance with this very card.

I don’t know the exact number but if I had to venture a guess I’d say I’ve easily pushed well over $150k through this card over the 4 or so years that I’ve had it and have been able to do all of it interest free. I’ve purchased major appliances for my mom and grandma as gifts from there many times. Do you know how happy a mom is when her son has purchased and had delivered the Samsung touch screen refrigerator that she was just looking at a week before Mother’s Day?? And how happy Grandma is to get the Roomba that she really wanted but doesn’t have a clue how to use? Not to mention the ring door bells that I just picked up for both of them on Wednesday. LOL!! It makes them very happy which in turn makes me VERY happy.

There isn’t a VS, MC, Amex, or Discover card that I know of that would even come close to allowing me to make my house a home and not pay a cent in interest while doing it.

As you can see...I’m a huge fan of Lowe’s. I’m the guy who knows most folks at my local Lowe’s on a first name basis. I look for reasons to go there and if I don’t have a reason I’ll create one. I’ve spent a many of lunch breaks at the Lowe’s across the street from my job. Yep...I’m that guy. LOL! And BTW, I’m not a DIY type of person, I’ve used their contractors to get lots of things done and have been very pleased with the cost and the end result.

I rave about Lowe’s so much that they should put me on their payroll.

I love your love for Lowe’s @Loquat and this was a great read. Now the question is—do you own any Lowe’s stock? 😁

Re: Lowes - CC Opinions?

Shooting-For-800 — Sat, 01 Jun 2019 11:27:04 GMT

Huge credit lines, discounts, 0% offers, great website...

What’s not to love?

Re: Lowes - CC Opinions?

Anonymous — Sat, 01 Jun 2019 14:18:56 GMT

@Loquat Reading your post has me wanting to go Lowe’s and buy stuff. Lol 😂

Re: Lowes - CC Opinions?

CreditCuriosity — Sat, 01 Jun 2019 14:22:05 GMT

@Anonymous wrote:
@Loquat Reading your post has me wanting to go Lowe’s and buy stuff. Lol 😂

@Anonymous want to buy some stuff for me and ill stop by and pick it up.. you are saving 5% and I get free stuff ... I can think of a few k if not 10k+ in stuff i want from there. I will keep it modest i hate my dishwasher on new house and want an LG one, so we can just start with that.

Re: Lowes - CC Opinions?

EW800 — Sat, 01 Jun 2019 14:39:57 GMT

Thank you for all the great feedback everyone! Pulling the trigger on Lowes is veru tempting.

To some of our scoring experts, any idea how opening this one new account would impact my 850 credit scores or for how long? I am not worried about the AAoA, as I am currently at about 14 years, and I am also not concerned about the inquiry, as I hit the 850's with even one more inquiry than I have now. I assume just opening a new account in of it self will cost me a few points temporarily, correct?

Thanks again to all!

Re: Lowes - CC Opinions?

CreditInspired — Sat, 01 Jun 2019 14:44:42 GMT

@EW800 wrote:
Thank you for all the great feedback everyone! Pulling the trigger on Lowes is veru tempting.

To some of our scoring experts, any idea how opening this one new account would impact my 850 credit scores or for how long? I am not worried about the AAoA, as I am currently at about 14 years, and I am also not concerned about the inquiry, as I hit the 850's with even one more inquiry than I have now. I assume just opening a new account in of it self will cost me a few points temporarily, correct?

Thanks again to all!

Oh my, the luxury of thinking about a few points lost with an 850 score. 😁. I want to grow up to be just like you 😁

Re: Lowes - CC Opinions?

CreditCuriosity — Sat, 01 Jun 2019 14:48:16 GMT

Very good card probably a 10-15 point hit when at 850, but honestly anything over 760 is gravy on top IMO. You will get those points back soon enough

Re: Lowes - CC Opinions?

EW800 — Sat, 01 Jun 2019 15:22:17 GMT

@CreditInspired wrote:
@EW800 wrote:
Thank you for all the great feedback everyone! Pulling the trigger on Lowes is veru tempting.

To some of our scoring experts, any idea how opening this one new account would impact my 850 credit scores or for how long? I am not worried about the AAoA, as I am currently at about 14 years, and I am also not concerned about the inquiry, as I hit the 850's with even one more inquiry than I have now. I assume just opening a new account in of it self will cost me a few points temporarily, correct?

Thanks again to all!

Oh my, the luxury of thinking about a few points lost with an 850 score. 😁. I want to grow up to be just like you 😁

You have a very good point. I am embarrassed that I even asked. 😁

Re: Lowes - CC Opinions?

CreditInspired — Sat, 01 Jun 2019 15:26:59 GMT

@EW800 wrote:
@CreditInspired wrote:
@EW800 wrote:
Thank you for all the great feedback everyone! Pulling the trigger on Lowes is veru tempting.

To some of our scoring experts, any idea how opening this one new account would impact my 850 credit scores or for how long? I am not worried about the AAoA, as I am currently at about 14 years, and I am also not concerned about the inquiry, as I hit the 850's with even one more inquiry than I have now. I assume just opening a new account in of it self will cost me a few points temporarily, correct?

Thanks again to all!

Oh my, the luxury of thinking about a few points lost with an 850 score. 😁. I want to grow up to be just like you 😁
You have a very good point. I am embarrassed that I even asked.  😁

Oh don’t be embarrassed. 😁 Im just having a little fun 😁

Re: Lowes - CC Opinions?

pinkandgrey — Sat, 01 Jun 2019 15:31:31 GMT

I think a lot of people view it favorably. It has good offers for people that shop at Lowe’s or have big projects on the horizon. Also, the CLIs can be massive lol

Re: Lowes - CC Opinions?

CreditCuriosity — Sat, 01 Jun 2019 15:57:10 GMT

35k cl here, just gotta pay it back :/..

Re: Lowes - CC Opinions?

Anonymous — Sat, 01 Jun 2019 16:04:08 GMT

the home depot card reports as a finance account and dings your score, this one doesn't?

Re: Lowes - CC Opinions?

AverageJoesCredit — Sat, 01 Jun 2019 16:32:31 GMT

Home Depot Credit card does not report as a Finance account .

@EW800, forget 850, a real goal would be maintaing 800 exact across the board to match your un. Have some fun